Business News

Eighth NIS Investors’ Day held in Pančevo Oil Refinery

At the Eighth NIS Investors’ Day organised in Pančevo Oil Refinery, the industry professionals were presented the operating results of NIS Group for the nine months of 2019 along with its current investment projects - Bottom of the Barrel and Te-To Pančevo Projects.

12 November 2019

On this occasion, Anton Cherepanov, Head of the Function for Financing, Economics, Planning and Accounting, announced that the total net profit in the first nine months of 2019 amounted to 10.7 bn RSD. Cherepanov stated that the Company invested 29 billion RSD in capital projects in the period from January to September, which is a 6% increase compared to the same period last year. Most investments were focused on oil and gas exploration and production projects and the Bottom of the Barrel – a key project in the second phase of revamping of the Pančevo Oil Refinery.

After the presentation of the company’s financial results and the open dialogue which ensued between the representatives of NIS and the investors, participants were presented capital development projects in NIS. Andrej Djug, Director of the Project Support Sector presented the Bottom of the Barrel Project underway in Pančevo’s Refinery, while Nenad Jerinić from Gazprom Energoholding Srbija (joint venture of NIS and Centro Energoholding) presented to the audience the construction of the Thermal Energy Plant Pančevo (Te-To Pančevo)